why does this sound like a bad idea?

Discussion in 'Current Events' started by DKSuddeth, Aug 4, 2004.

  1. DKSuddeth
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    DKSuddeth Senior Member

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    Treasury to Auction $51 Billion in Notes

    WASHINGTON - The Treasury Department said Wednesday that it will auction $51 billion in notes next week and for now doesn't foresee any major changes in its borrowing needs to finance the national debt, which stands at $7.3 trillion.

    The department's decisions come as it considered the government's financing needs, something done on a quarterly basis. Treasury needs to borrow to finance the daily operation of the government, including meeting interest payments on the national debt.

    Associated Press
     
  2. 5stringJeff
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    5stringJeff Senior Member

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    It's business as usual.
     
  3. Annie
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    Annie Diamond Member

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    Well some of the 'money guys' should jump in, but I tend to agree. As we were discussing yesterday, inflation is a risk right now. Interest rates will be jumping, not falling and who will pick up that tab? Now IF I had money, I might buy, after hearing from the money guys! :cool:
     
  4. DKSuddeth
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    DKSuddeth Senior Member

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    I don't know. To me, it seems self defeating to finance debts. Isn't that how it works on a personal level?
     
  5. HGROKIT
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    HGROKIT Active Member

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    dunno either, but have to imagine that when you are talking 7.3 Trillion, it's a whole different ballgame. I cannot even fathom that amount - it has to all be a paper thing.
     
  6. Annie
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    Annie Diamond Member

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    Government always uses bonds. Remember, they produce NOTHING! Until, which I think we're unlikely to see, they stop spending more than they take in, they will finance.
     
  7. ajwps
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    ajwps Active Member

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    It seems that Milton Friedman, a Nobel Laureate in economics says nothing to be feared from large budget deficits except the fear created by the Left.

    http://moneycentral.msn.com/content/CNBCTV/Articles/TVReports/P42976.asp
     

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